Heinz is just the latest foodstuff in the billionaire’s well-stocked kitchen

Ronald Reagan counted ketchup as a vegetable. Warren Buffett is betting it’s a mineral , with the acquisition of H.J. Heinz
US:HNZ
. In one of the biggest-ever food-industry deals, Buffett’s Berkshire Hathaway Inc.
BRK.B, -0.08%
and private equity group 3G are forking over $28 billion, including debt for the king of condiments. Buffet doesn’t typically team up with a third party for acquisitions, but analysts say Heinz was too tasty to resist. “The brand equity inherent in their portfolio is undeniable,” says Erin Lash, analyst with Morningstar. Heinz is hardly his first foray into food. In fact, one can argue he’s now the sage, parsley, and rosemary of Omaha. Here’s a peek inside his fridge. — By Quentin Fottrell

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Dairy Queen

Berkshire Hathaway completed its acquisition of Dairy Queen in 1998 for $585 million, adding the established fast-food franchise to its stable of food companies. The chain gets its name from its signature soft-serve and Buffett himself is no stranger to the restaurant. In fact, after agreeing to provide $5 billion to Goldman Sachs at the height of the financial crisis in 2008, the Wall Street Journal reported that Buffett took his grandchildren to Dairy Queen.

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See’s Candies

In one of his first company purchases, Buffett bought California-based See’s Candies in 1972. Established in 1921, See’s Candies prides itself in making preservative-free treats. About two-thirds of See’s Candies’ 200 retail stores are based in California, with most of the others sprinkled west of the Rocky Mountains. Under the control of Buffett — who is also known to have a sweet tooth — the company expanded into Texas and opened more stores in the west.

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Coca-Cola

Regarded as one of Buffett’s most profitable investments, he started buying stock in Coca-Cola Co.
KO, +1.28%
in 1988 and now has a stake that hovers around 8.8%, according to Berkshire Hathaway’s last annual report. The company disappointed investors with its fourth-quarter results released earlier this week with global sales up just 3%. Buffett has said he was “late to the party” with Coca-Cola but measures success by the long-term progress rather than by the month-to-month movements of the stock.

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Kraft Foods

In 2008, Berkshire bought a 8% stake in Kraft Foods Inc., but has since trimmed that to around 4.5%, according to its latest annual report. Last October, Kraft changed its name to Mondelēz International, Inc.,
MDLZ, -0.31%
which owns snacks like Oreo cookies and Cadbury chocolate, and spun off its North American grocery business into Kraft Foods Group, Inc. “The grocery business is one of the more attractive players in the package food space,” Lash says. Kraft is investing more in key brands like Kraft Mayonaise, she says.

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The Pampered Chef

Perhaps not in the fridge, but beside it: In 2002, Berkshire Hathaway acquired The Pampered Chef for an undisclosed amount – $900 million, according to most estimates — from its founder and chairman, Doris K. Christopher, and her family. Christopher started the company — a direct-seller of kitchen tools — in 1980 with $3,000 she borrowed from a life insurance policy. It now has a direct sales force of over 60,000 people and a staff of 750. The company has operations in the U.S., U.K., Germany, Canada and Mexico.

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